Foreign investment has been facilitated by globalization and the global market has been able to expand. Before the advent of globalization in developing countries, short essay globalization, the main source of occupation for the active members of the population, both men and women, was agriculture. There have been some difficulties in India with the processes of domestic liberalization and external liberalization short essay globalization on simultaneously. Former believe it to be existing since ancient times while latter assert that it started only in 21 st century. The globalization essay example above gives a clear picture of the cons of globalization.
Short and Long Essays on Globalization
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But Globalization in India has also provided a vibrant World platform for Indian Art, Music, Clothing, and Cuisine. The psychological impact on a common Indian Man: The educated youth in India is developing a pictorial identity where they are integrating themselves with the fast-paced, technology-driven world and at the same time they are nurturing the deep roots of Indian Culture. Indians are fostering their Global identity through social media platforms and are actively interacting with the World community. They are more aware of burning issues like Climate Change, Net neutrality, and LGBT rights.
India has taken the Centre Stage amongst the Developing Nations because of its growing economy on the World Map. Globalization in India has brought tremendous change in the way India builds its National and International policies. It has created tremendous employment opportunities with increased compensations. A large number of people are hired for Special Economic Zones SEZs , Export Processing Zones EPZs , etc. Developed western countries like USA and UK outsource their work to Indian companies as the cost of labour is cheap in India.
This, in turn, creates more employment. This has resulted in a better standard of living across the demographic of young educated Indians. The Indian youth is definitely empowered in a big way. Young lads below the age of 20 are now aspiring to become part of global organizations. Globalization in India has led to a tremendous cash flow from Developed Nations in the Indian market. As a positive effect, India is witnessing the speedy completion of Metro projects across the country. Globalization has greatly contributed in numerous ways to the development of Modern India. As there are so many pros we cannot turn a blind eye to the cons of Globalization which are quite evident with the Indian perspective.
The worst impact is seen in the environment across Indian cities due to heavy industrialization. Delhi, the capital of India has made headlines for the worst ever air pollution, which is increasing at an alarming rate. Globalization in India has been a major reason for the vulnerable condition of Indian Farmers and shrinking Agriculture sector. The intrusion of world players and import of food grains by the Indian Government has left minimal space for Indian farmers to trade their produce. The pervasive media and social networking platforms have deeply impacted the value system of our country where bigotry and homophobia are becoming an obvious threat.
One cannot clearly state that the impact of Globalization in India has been good or bad as both are quite evident. From the economic standpoint, Globalization has indeed brought a breath of fresh air to the aspirations of the Indian market. However, it is indeed a matter of deep concern when the Indian traditions and value system are at stake. India is one of the oldest civilizations and World trade has been the keystone of its History. Globalization must be practiced as a way towards development without compromising the Indian value system. Globalisation can simply be defined as the process of integration and interaction between different people, corporations and also governments worldwide.
Technology advancement which has in turn advanced means of communication and transportation has helped in the growth of globalisation. Globalisation has brought along with it an increase in international trade, culture and exchange of ideas. Globalisation is basically an economic process that involves integration and interaction that deals also with cultural and social aspects. Important features of globalisation, both modern and historically are diplomacy and conflicts. In term of economy, globalisation involves services and goods, and the resources of technology, capital and data. The steamship, steam locomotive, container ship and jet engine are a few of the many technological advances in transportation while the inception of the telegraph and its babies, mobile phones and the internet portray technological advances in communications.
These advancements have been contributing factors in the world of globalisation and they have led to interdependence of cultural and economic activities all over the world. There are many theories regarding the origin of globalisation, some posit that the origin is in modern times while others say that it goes way back through history before adventures to the new world and the European discovery age. Some have even taken it further back to the third millennium. Globalisation on a large-scale began around the s. Globalisation in its current meaning only started taking shape in the s.
There are four primary parts of globalisation, they are: transactions and trade, investments and capital movement, movement and migration of people and the circulation of knowledge and information. Globalization is subdivided into three: economic globalisation, political globalisation and cultural globalisation. There are two primary forms of globalisation: Archaic and Modern Globalisations. Archaic globalisation is a period in the globalisation history from the period of the first civilisations until around the s. Archaic globalisation is the interaction between states and communities and also how they were incepted by the spread by geography of social norms and ideas at different levels.
Archaic globalisation had three major requirements. First is the Eastern Origin idea, the second is distance, the third is all about regularity, stability and inter-dependency. The Silk Road and trade on it was a very important factor in archaic globalisation through the development of various civilisations from Persia, China, Arabia, Indian subcontinent and Europe birthing long distance economic and political relationships between them. Silk was the major item from China along the Silk Road; other goods such as sugar and salt were also traded. Philosophies, different religious beliefs and varying technologies and also diseases also moved along the Silk Road route. Apart from economic trade, the Silk Road also was a means of cultural exchange among the various civilisations along its route.
Modern globalisation can be sub-divided into early modern and Modern. Early modern globalisation spans about years of globalisation between and It is the period of cultural exchange and trade links increasing just before the modern globalisation of the late 19 th century. The Spanish and Portuguese Empires were the first and then we had the British and Dutch Empires. The establishment of chartered companies British East India Company and the Dutch East India Company further developed world trade. Modern Globalisation of the 19 th century was as a result of the famed Industrial Revolution.
Railroads and steamships made both local and international transportation easier and a lot less expensive which helped improve economic exchange and movement of people all over the world, the transportation revolution happened between and A lot more nations have embraced global trade. Globalisation has been shaped decisively by the imperialism in Africa and in Asia around the 19 th century. Also, the ingenious invention in of the shipping container has really helped to quicken the advancement of globalisation. The Bretton Woods conference agreement after the Second World War helped lay the groundwork for finance, international monetary policy and commerce and also the conception of many institutions that are supposed to help economic growth through lowering barriers to trade.
From the s, there has been a drop in the affordability of aviation to middle class people in countries that are developed. Also, around the s, the cost of communication networks also drastically dropped thus lowering the cost of communicating between various countries. Communication has been a blessing such that much work can be done on a computer in different countries and the internet and other advanced means of communications has helped remove the boundary of distance and cost of having to travel and move from place to place just to get business done.
One other thing that became popular after the Second World War is student exchange programmes which help the involved students learn about, understand and tolerate another culture totally different from theirs, it also helps improve their language skills and also improve their social skills. Surveys have shown that the number of exchange students have increased by about nine times between and Economic globalisation is differentiated from modern globalisation by the information exchange level, the method of handling global trade and expansionism. Economic globalisation is just the ever increasing interdependence of economies of nations worldwide caused by the hike in movement across borders of goods, services, capital and technology.
Economic globalisation is basically the means of increasing economic relationships between countries, giving rise to the birth of a single or global market. Based on the worldview, Economic globalisation can be seen as either a negative or positive thing. Economic globalisation includes: Globalisation of production; which is getting services and goods from a source from very different locations all over the world to gain from the difference in quality and cost. There is globalisation of markets; which is the coming together of separate and different markets into one global market. Economic globalisation includes technology, industries, competition and corporations. Globalisation today is all about less developed countries and economies receiving FDI Foreign Direct Investment from the more developed countries and economies, reduction in barriers to trade and to particular extent immigration.
Political globalisation is going to on-the-long-run drop the need for separate nation or states. Institutions like the International Criminal court and WTO are beginning to replace individual nations in their functions and this could eventually lead to a union of all the nations of the world in a European Union style. Non-governmental organisations have also helped in political globalisation by influencing laws and policies across borders and in different countries, including developmental efforts and humanitarian aid. A typical example is the government of North Korea which makes it extremely difficult and hard for foreigners to even enter their country and monitor all of the activities of foreigners strictly if they allow them in.
Citizens are not allowed to leave the country freely and aid workers are put under serious scrutiny and are not allowed in regions and places where the government does not want them to enter. Intergovernmentalism is the treatment of national governments and states as the major basic factors for integration. Multi-level governance is the concept that there are many structures of authority interacting in the gradual emergence of political globalisation. Cultural globalisation is the transmission of values, ideas and meanings all over the world in a way that intensify and extend social relations. Cultural globalisation is known by the consumption of different cultures that have been propagated on the internet, international travel and culture media.
The propagation of cultures helps individuals to engage in social relations which break regional boundaries. Cultural globalisation also includes the start of shared knowledge and norm which people can identify their cultures collectively; it helps foster relationships between different cultures and populations. It can be argued that cultural globalisation distorts and harms cultural diversity. Globalisation has made the world into one very small community where we all interact and relate, learn about other cultures and civilisations different from ours.
Globalisation has helped improve the ease of doing business all around the world and has made the production of goods and services quite easy and affordable. Nevertheless, the good of globalisation outweighs the bad so globalisation is actually a very good thing and has helped shape the world as we know it. Economics , Globalisation. Get FREE Work-at-Home Job Leads Delivered Weekly! Join more than 50, subscribers receiving regular updates! Plus, get a FREE copy of How to Make Money Blogging! Message from Sophia! Like this post? You must be logged in to post a comment. About Us Home About Project Testimonials Contact Us. Facebook Twitter. Sign Up. I would love to hear from you and read your comments on this article.
Let me know what you think about this article. Is it helpful to you? Your comments and suggestions will serve as an inspiration and learning platform for me. Regards, Sophia. Here are a few recommended articles for you to read next: Which is More Important in Life: Love or Money Essay Essay on My School Essay on Solar Energy Essay on Biodiversity. Before the advent of globalization in developing countries, the main source of occupation for the active members of the population, both men and women, was agriculture. But since the influx of foreign corporations occurred, there has been a sectoral shift in the labour force as more hands are being drafted towards assembly production and fewer hands left in the fields.
Another effect of globalization in this regard is a relative increase in unemployment. All these, coupled with shocks in the global economy and the act of outsourcing have led to the laying off of thousands of workers who previously worked in the big multinational companies resulting in mass unemployment. Prior to the onset of globalization, there existed a little wage difference between skilled and unskilled workers in most developing nations. But since globalization came in, there is a widely accepted fact that increases in the demand of skilled labour drove the drastic increase in skill premium. Similarly, different theories have been proposed for the changes in relative prices and consumption as caused by globalization.
But the most widely accepted conclusion is that globalization has contributed largely to inequalities in developing nations. Better opportunities in more developed countries, coupled with the possibility of easy travel, have lead to a lot of educated people being lured away from developing countries. In addition, globalization has resulted in the loss of cultural boundaries. In this wise, it has caused the extinction of several languages in many developing nations. The way languages are going extinct is very rapid, and this has been predicted to continue unless something can be done to stop the complex process of globalization Cronin The enhanced interaction of western cultures with local cultures in the developing world has led to melting of previously existing cultural barriers so that the individuality of the local cultures begin to fade.
The increase in international travel has also contributed to this as the World Health Organization estimates that approximately , people are in airplanes at any one point in time The Guardian 28 April , p. Also, the adoption of multiculturalism coupled with the melting of international barriers and easy spread of propaganda through the internet has led to youths of developing nations imbibing extremist ideas, causing their being used by terrorists in suicide attacks, as is occurring in many developing nations such as Somalia, Sudan, Tunisia, Egypt, etc.
The encouragement of free trade zones in developing countries in a bid to woo foreign investors has resulted in negative effects. In a bid to maximize profit, most of these multinational companies prefer to refrain from creating healthier and safer working environments for their workers. And coupled with the inability of the workers to unionize as a result of the free trade policy, the workers have to suffer in silence. Other negative impacts of globalization in developing countries include the alteration of the environment and reduction in environmental sustainability, increase in human trafficking, exploitation of cheap labour by foreign industrialists. This paper has been able to show globalization as a complex process with wide reaching impacts on developing countries.
Globalization on its own has a lot of gains and benefits, but due to the influence of some other factors and especially the nature and structure of most developing nations, it impacts negatively despite its advantages. These impacts hold serious challenges for developing countries in the face of needed economic growth and development for these countries. To this end, the leadership of the various nations in the developed world must understand that their major responsibilities lie in the needs of their immediate societies. It is therefore imperative that these countries formulate rational policies and reforms that would guide liberalisation of trade and the complexities of globalization as a whole to conform to their own domestic economic agenda. Globalization itself should not be hindered.
Adedeji, A Indigenization of African economies, Hutchinson University Library for Africa, London. Annan, K Globalization and its impact Distributional Effects of Globalization in Developing Countries, Journal of Economic Literature, vol. Ibrahim, MJ Lawal, G. Mubiru, E. Ofosu V Princová, K Globalization and infectious diseases: A review of the linkages, Social, Economic and Behavioral Research, vol. Stallings, B. Globalization and Liberalization: A View from the Developing Countries, U. The Guardian March 24, Analysis of Globalisation Strategy in McDonalds. How has the role of the nation-state changed in a globalised society? Is Globalization good or bad? The recent technological inventions has brought down the cost of voice conferencing.
International webinars are held now and then. Due to deep penetration of Internet, even small eCommerce companies are making cross-border transactions. An increased sense of humanity , and the brotherly feeling towards global community, has inspired organization to serve people around the world. Movement of people to foreign countries a for education in international universities, and b for looking for better job opportunities. For example, Indian people form the largest diaspora in the world. In the present age of globalization, the economy of countries are inter-dependent. If the economy of one country fall in danger, other countries also feel the pain.
Businesses are engaged in international transactions. Export-import among countries involves a massive amount of money. For example, China has become a massive manufacturing hub. The electronic goods manufactured in China are sold across almost every country of the world. Multinational-companies have economic interest across several nations. Companies such as Coca-cola, Pepsi, Ford, Unilever, TATA, etc. operate across multiple countries. They have big market and make huge investment in foreign countries. A decline in demand in one country affects the overall performance of these companies.
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